Chaojie Co., Ltd. announced that Shanghai Yining Investment Co., Ltd., the controlling shareholder of the company, has completed the previously disclosed holdings reduction plan and reduced its holdings by a total of 3,985,520 shares, accounting for 2.97% of the company's current total share capital and 3.00% of the total share capital after excluding the repurchase of shares in the company's special account. After the holdings were reduced, Shanghai Yining's shareholding ratio fell to 45.37%. After the implementation of this holdings reduction plan, Shanghai Yining is still the controlling shareholder of the company. It will not lead to a change in the company's control, and there will be no impact on the company's governance structure, equity structure, and continuous operation.

Chaojie Co., Ltd. announced that Shanghai Yining Investment Co., Ltd., the controlling shareholder of the company, has completed the previously disclosed holdings reduction plan and reduced its holdings by a total of 3,985,520 shares, accounting for 2.97% of the company's current total share capital and 3.00% of the total share capital after excluding the repurchase of shares in the company's special account. After the holdings were reduced, Shanghai Yining's shareholding ratio fell to 45.37%. After the implementation of this holdings reduction plan, Shanghai Yining is still the controlling shareholder of the company. It will not lead to a change in the company's control, and there will be no impact on the company's governance structure, equity structure, and continuous operation.